What is Bending Spoons? Everything to know about Eventbrite’s acquirer

In a bold move this week, Milan-based tech firm Bending Spoons announced its acquisition of Eventbrite for $500 million. This strategic purchase adds the popular event ticketing platform to a growing list of notable consumer tech brands under Bending Spoons’ umbrella, which includes names like Evernote, WeTransfer, and Streamyard. The announcement, made on Tuesday, highlights Bending Spoons’ role as a significant player in the tech acquisition landscape, despite its relatively low public profile. The company, founded just 12 years ago, has gained a reputation for acquiring underperforming yet well-loved tech brands and revitalizing them to serve millions more efficiently. Bending Spoons is not your typical private equity firm; it focuses on transforming the products and services of the companies it acquires. The company’s approach often includes restructuring efforts, which can lead to layoffs and changes to familiar features, as seen with its acquisitions of Evernote and WeTransfer. Despite its low visibility, Bending Spoons has impacted over a billion users, boasting an impressive 300 million monthly active users and 10 million paying customers. The company’s origins trace back to the remains of Evertale, a failed startup from Copenhagen that attempted to launch a photo-sharing app. After Evertale's collapse, its founders regrouped and began acquiring other businesses instead. Bending Spoons is known for identifying popular products ripe for improvement and acquiring them from owners seeking to exit. While it has made notable acquisitions since its inception, including the AI-driven photo enhancer Remini, the past few years have seen its most significant deals. In 2022, Bending Spoons acquired Filmic, leading to the dismissal of all staff shortly thereafter. The company also added Evernote to its portfolio, which had once been valued at $1 billion but faced difficulties leading to job cuts and changes in its free service. The activity continued into 2024 with the acquisitions of Meetup, Mosaic Group, and StreamYard, and later in July, Bending Spoons secured WeTransfer and Issuu, implementing significant changes to their operations. The company’s acquisition spree shows no signs of slowing, as it plans to invest further in technology and AI capabilities, bolstered by a recent funding round that raised $270 million. With a valuation now exceeding $11 billion, Bending Spoons has joined the ranks of Europe’s tech decacorns. CEO Luca Ferrari and the co-founders have seen their stakes in the company skyrocket, with Ferrari's holdings valued at around $1.4 billion. The company continues to attract attention in the tech world, supported by a host of celebrity investors and a growing number of job applications, reflecting its increasing profile in the industry. As Bending Spoons prepares to finalize its acquisition of both AOL and Vimeo, it is clear that the company is on a mission to reshape the digital landscape further, aiming to bring fresh life to established brands while expanding its portfolio significantly.